Friday, January 16, 2015

Lawler: Preliminary Table of Distressed Sales and Cash buyers for Selected Cities in December

by Bill McBride on 1/16/2015 11:46:00 AM

Economist Tom Lawler sent me the preliminary table below of short sales, foreclosures and cash buyers for a few selected cities in December.

On distressed: Total "distressed" share is down in most of these markets mostly due to a decline in short sales.

Short sales are down in these areas (except Sacramento).

Foreclosures are up in a few areas (working through the logjam).

The All Cash Share (last two columns) is declining year-over-year. As investors pull back, the share of all cash buyers will probably continue to decline.

  Short Sales ShareForeclosure Sales Share Total "Distressed" ShareAll Cash Share
Dec-14Dec-13Dec-14Dec-13Dec-14Dec-13Dec-14Dec-13
Las Vegas10.0%20.7%8.0%8.5%18.0%29.2%34.1%44.4%
Reno**8.0%24.0%5.0%4.0%13.0%28.0%   
Phoenix            29.2%32.9%
Sacramento6.2%6.1%7.1%5.4%13.3%11.5%15.4%**19.5%**
Minneapolis3.7%5.5%12.6%17.1%16.3%22.7%   
Mid-Atlantic 4.9%8.0%11.2%9.3%16.1%17.3%20.3%19.3%
Orlando4.8%13.5%26.7%19.1%31.5%32.7%40.0%45.0%
Bay Area CA*4.0%7.9%3.7%4.6%7.7%12.5%19.0%23.5%
So. California*6.2%10.2%5.0%5.8%11.2%16.0%23.8%28.8%
Hampton Roads        21.5%29.1%   
Northeast Florida        30.6%37.9%   
Toledo            37.9%36.5%
Tucson            28.7%32.3%
Des Moines            20.3%23.1%
Georgia***            25.5%N/A
Omaha            20.5%23.9%
Memphis*    15.0%21.0%       
*share of existing home sales, based on property records
**Single Family Only
***GAMLS